MIRA
INFORM REPORT
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Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KARMA FLAVORS FRAGRANCES COMP |
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Registered Office : |
1st Industrial Zone, Street No. 190, Plot No. 3, Block No. 20031
Cairo Ismailia Road El Obour City Cairo |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.06.2007 |
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Com. Reg. No.: |
13867, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of foodstuff flavours, fragrances, colours and stabilizers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Compliant |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : KARMA FLAVORS FRAGRANCES COMPANY
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1st June 2007
Commercial Registration Number : 13867,
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 25
Activities : Manufacturers of foodstuff flavours, fragrances, colours and stabilizers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
KARMA FLAVORS FRAGRANCES COMPANY
ADDRESS
Registered & Physical Address
Building : 1st
Industrial Zone, Street No. 190, Plot No. 3, Block No. 20031
Street :
Area : El Obour
City
Town :
Country :
Telephone : (20-2) 46103445
/ 46103446 / 46103447
Facsimile : (20-2)
46104072
Email : karmaz@tedata.net.eg
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
· Riyad
Mahmoud Ahmed Al Zawai Managing
Partner
· Khalid Mahmoud
Ahmed Al Zawai Partner
· Sarah Mohamed Administration
Executive
LEGAL FORM & OWNERS
Date of
Establishment : 1st
June 2007
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 13867,
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
· Riyad
Mahmoud Ahmed Al Zawai
· Khalid Mahmoud
Ahmed Al Zawai
OPERATIONS
Activities: Engaged in the manufacture of foodstuff flavours, fragrances, colours
and stabilizers.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 25 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales £E
8,750,000 £E 9,300,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial International Bank (CIB)
PO Box: 2430
Tel: (20-2) 25703043
Fax: (20-2) 25703172 / 25072691
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.34 |
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1 |
Rs.73.69 |
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Euro |
1 |
Rs.65.75 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.